OINDAO V3’s First Stablecoin Listing — nUSDO is Now Publicly Live + Multi-token Rewards Program!
Calling all early adopters from the NEAR community, the nUSDO is HERE! As the first launch of a stablecoin on the OINDAO V3, as well as the first NEAR-backed stablecoin, the nUSDO is not only the best stablecoin we’ve launched yet, it also comes with immense yield-farming opportunities to celebrate!
To celebrate the launch, we’re holding a sweepstake of $3000, AND have prepared some of the best yield farming opportunities seen on NEAR!
Now for a quick recap of the features of OINDAO, and the yield opportunities.
OINDAO V3
As you’re all itching to finally try your hand at minting some nUSDO, we’ll go through a quick list of features available on the OINDAO V3 for the stNEAR backed stablecoin!
LINK: https://near.oin.finance/
- Vaults — akin to accounts, the place to deposit and collateralize your stNEAR
- Minting / Leveraging — mint nUSDO by collateralizing your stNEAR!
- Minimum Collateralization Ratio (MCR) — the MCR is set at 160%! Low enough for usability, while high enough for stability!
- Single-vault liquidations — if a vault falls below MCR, users can liquidate that specific vault to bring the overall Collateralization Ratio (C-ratio) up!
- Stability Pool — a place to stake your nUSDO, while providing the resources to help liquidations while taking any residual profits!
And for a quick recap of the OIN token:
- Deflationary token! — The Stability Fees paid on OINDAO will be in nUSDO. This is then collected to repurchase the OIN token on the market on-chain (Ref Finance in this case), and then burned
- Governance — The OIN token will be used to govern the Stability Fee rate. This feature is set to release sometime next year
For a complete list of features and its uses, check out our OINDAO Docs!
Yield Farming with OINDAO
Quick Facts:
- 900,000 OIN tokens over 3 months
- 1,000,000 META tokens over 1 month
- More rewards to be announced in the following days
As a way to thank our community for being part of the launch, we’re starting the first multi-token rewards program on the OINDAO!
Our top-tier partners have provided us a significant boost to the program as well, providing some amazing incentives for users to be minting the nUSDO!
The rewards will be distributed through the various mechanisms and partners of the OINDAO:
- The META token will be given to those who deposit funds into their vault on the OINDAO
- The OIN token will be given to those who stake the resultant nUSDO into the Stability Pool
Through the above mechanisms, users will now be able to enjoy rewards through every step of their journey from holding NEAR, to using the nUSDO. We (including our partners) wanted to ensure that users know that they’re appreciated at every step, and want to see full usage of the system.
- User holds NEAR
- NEAR is staked on Meta Pool to receive stNEAR
- User receives META rewards through Meta Pool
- stNEAR is then deposited into the user’s vault on OINDAO
- User receives META rewards on OINDAO through their vault
- nUSDO is minted by collateralizing the stNEAR in their vault, then deposited in the Stability Pool
- User receives OIN rewards in the Stability Pool
NOTE: Meta Pool is currently conducting an IDO, and the META token is undergoing price discovery. Thus, the value of the META rewards is yet TBD.
This week our focus will be to allow users to familiarize themselves with the OINDAO V3 system, hence the rewards will be distributed within the OINDAO V3 system.
Next week, we will be guiding users on how the nUSDO is integrated into the NEAR ecosystem, and will be extending the rewards from other partners on NEAR:
- We will be launching wNEAR — nUSDO and stNEAR — OIN trading pairs on Ref Finance, users will be able to receive REF tokens as liquidity providers
- We will be adding wNEAR on top of the META rewards for users that collateralize stNEAR
And without further ado, please be sure to thoroughly enjoy the OINDAO V3 in all its glory!
ABOUT OIN FINANCE
OIN is a decentralized stablecoin issuance platform. With a robust set of features such as single-vault liquidations and own-brand-labelled stablecoins, we bring the best stablecoin solutions for all, including our Layer-1 and Layer-2 partners.
For all the recent updates and progress, connect with OIN Finance and become a part of our community at:
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